Which of the Following Describes an ERP System

question 123

Multiple Choice

Which of the following describes an ERP system?

• A)ERP systems provide a foundation for collaboration between departments.
• B)ERP systems enable people in different business areas to communicate.
• C)ERP systems have been widely adopted in large organizations to store critical knowledge used to make the decisions that drive the organization's performance.
• D)All of these are correct.

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Definitions:

Equilibrium

The state in which market supply and demand balance each other, and as a result, prices become stable.

Deadweight Loss

A cost to society created by market inefficiency, which occurs when supply and demand are out of equilibrium.

Tax Revenue

The income that is gained by governments through taxation, used to fund public services and government obligations.

Excise Tax

A tax levied on specific goods, services, or transactions, often included in the price of products like tobacco, alcohol, and gasoline.